Installed Building Products (NYSE:IBP) Price Target Cut to $180.00 by Analysts at Truist Financial

Installed Building Products (NYSE:IBP - Get Free Report) had its price target lowered by research analysts at Truist Financial from $240.00 to $180.00 in a report issued on Monday,Benzinga reports. The firm currently has a "hold" rating on the construction company's stock. Truist Financial's price objective suggests a potential upside of 3.37% from the company's previous close.

IBP has been the subject of several other reports. JPMorgan Chase & Co. boosted their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Evercore ISI downgraded Installed Building Products from an "outperform" rating to an "underperform" rating and cut their target price for the company from $238.00 to $206.00 in a research note on Monday, December 16th. DA Davidson decreased their price target on Installed Building Products from $260.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Seaport Res Ptn cut shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 13th. Finally, Benchmark reduced their price objective on shares of Installed Building Products from $250.00 to $210.00 and set a "buy" rating for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $219.40.

Remove Ads

Installed Building Products Stock Performance

NYSE:IBP traded up $1.69 during mid-day trading on Monday, hitting $174.13. The stock had a trading volume of 283,214 shares, compared to its average volume of 380,303. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The company has a 50 day simple moving average of $182.58 and a 200-day simple moving average of $207.74. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 19.35 and a beta of 1.99. Installed Building Products has a 52 week low of $159.76 and a 52 week high of $281.04.

Institutional Trading of Installed Building Products

A number of large investors have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. acquired a new stake in shares of Installed Building Products during the 4th quarter valued at $823,000. Ascent Group LLC raised its position in shares of Installed Building Products by 18.6% during the fourth quarter. Ascent Group LLC now owns 23,357 shares of the construction company's stock worth $4,093,000 after purchasing an additional 3,671 shares during the period. McIlrath & Eck LLC lifted its holdings in shares of Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after purchasing an additional 61 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new position in shares of Installed Building Products in the 4th quarter valued at $90,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Installed Building Products by 5.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 103,901 shares of the construction company's stock worth $18,209,000 after purchasing an additional 5,194 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.